& All & Fees & Local & Central \\
 \cmidrule(lr{0.5em}){3-5} 
 & (1) & (2) & (3) & (4) \\ \midrule
\hspace{0.1cm} Registered ($\beta^{OLS})$&     0.15\sym{***}&     0.01         &     0.08\sym{***}&     0.13\sym{***}\\
                &   (0.03)         &   (0.02)         &   (0.02)         &   (0.03)         \\
\midrule
\hspace{0.1cm} $\widehat{\text{Registered}}$ ($\beta^{IV})$&     0.15         &    -0.01         &     0.00         &     0.26         \\
                &   (0.27)         &   (0.24)         &   (0.18)         &   (0.24)         \\
                &   [0.58]         &   [0.96]         &   [0.99]         &   [0.25]         \\
\midrule DV Mean&     0.20         &     0.04         &     0.05         &     0.15         \\
FS F-statistic  &     23.2         &     23.2         &     23.2         &     23.2         \\
\midrule
$\rho$(Wealth, DV)&     0.35&     0.04&     0.32&     0.40\\
\midrule
Observations    &      953&      953&      953&      953\\
